Oriental Bank Q1 net down 29% at Rs258-cr

30 July 2015

State-run lender Oriental Bank of Commerce (OBC) has reported net profit of Rs2,578 crore for the quarter ended 30 June 2015, a 29.27-per cent fall from the Rs365 crore recorded in the Quarter ended 30 June 2014.

The bank had reported a net loss of Rs178.44 crore in the previous quarter (January-March 2014-15).

Total income for the quarter stood at Rs5,569 crore, slightly lower than a total income of Rs5,576 crore in the same quarter last fiscal.

Total interest income for the quarter ended 30 June increased to Rs5,115 crore (Rs4,988 crore).

Trading profit from treasury for the quarter stood at Rs101 crore compared to Rs124 crore during the year-ago period.

Net NPA stood at Rs5,357 crore as on 30 June 2015, compared to Rs4,228 crore on 30 June 2014, showing an increase of 26.70 per cent.

In percentage terms, net NPAs stood at 3.76 per cent of total advances at the end of the quarter, up 3.11 per cent from the previous-year quarter.

Capital adequacy ratio (CAR) under Basel III of the bank stood at 11.07 per cent as of 30 June 2015.

Shares of the bank gained Rs5.15, or 3.27 per cent and were trading at Rs162.50 in the afternoon trading. Total volume of shares traded on the BSE stood at 572,951 at 1.41 pm.